What do brands really want?
Progressive Grocer’s recent webinar, ‘A CPG’s perspective on retail media and personalization,’ featured Steven Winnick, Senior Analyst at Coresight Research, and Xavier Facon, Global Head of Retail Media at NIQ, and offered a look into what brand advertisers really think when it comes to parting with their precious retail media dollars.
We know retail media is a booming industry – Coresight projects it will reach $51.9 billion by the end of this year and more than double to $120 billion in 2025. Retail media is not just growing faster than social and search but is actually catching up. This is big business. To succeed in this industry, RMNs need to treat CPGs more like clients and offer true collaboration.
Coresight Research surveyed 100 CPGs and FMCGs with over $100 million in annual revenue and found gaps in most existing RMN offerings. The data offers clear areas where RMNs can better deliver for brand advertisers.
1. Collaboration (46%)
CPG’s want transparency from their RMN partnerships. This requires a two-way relationship rather than a one-way street of retail dollar investment. One way we approach this at Threefold is with Plan-Apps, the operating system that powers our retail media partnerships. At its core, Plan-Apps simplifies media execution and provides clear insights across media performance. The suite of seven applications enables seamless collaboration between RMNs, retailers and CPGs, allowing brands to view their retail media plans in one place, forecast and ultimately evaluate campaign performance.
Plan-Apps, named one of the Top 5 ad tech tools by Performance Marketing World, provides color to what has historically been a transactional relationship, putting power back into CPG’s hands with real campaign performance insights that future-proof investments and enable experimentation. Above all else, Plan-Apps provides the collaborative environment to enable RMNs to have the tough but necessary conversations about what has and what hasn’t worked.
2. Ability to distinguish in-store shelf promotions from retail media (36%)
Threefold offers a unique RMN consultancy and white-label, end-to-end RMN service solution for retailers. Within our 15 years of setting up 10 RMNs for clients such as Deliveroo, Boots Walgreens, and Morrisons, we’ve grown and developed retailers into world-class omnichannel media owners.
By integrating with merchandising and trade teams, we can align media buying to trade promotional plans, allowing CPGs to buy media and sync with their in-store promotions, further elevating incremental sales both online and in-store. Ultimately, creating a unified approach builds campaigns that grow sales, build brands and acquire new customers. Part of our test vs. control methodology examines price promotions as a variable to ensure we are accurately measuring the impact of the media alone and stripping out the impact of an increase in sales from a price promotion.
3. Trustworthy return on ad spend (29%)
Technology and data are at our core at Threefold. We believe that every dollar spent on commerce media can and should be tracked back to a sale, either online or in-store. Threefold takes a standardized approach to each measurement method, which allows CPGs to access like-for-like comparisons across retailers and media channels. At Threefold, we create campaigns driven by data, which work against clearly established KPIs and objectives. To achieve this, we need to ensure that our measurement is trustworthy and honest for the benefit of ourselves, the retailer and the brand.
For RMNs to build a successful omnichannel network, we need to know exactly how touchpoints truly perform for specific metrics to ensure we have a varied toolkit that we know delivers for each metric.
About Ella Rice
Ella Rice is a client manager in the Threefold North America team, where she supports CPGs in planning, building and measuring retailer campaigns. Prior to her role at Threefold, Ella spent three years on the Plan-Apps team within SMG, supporting CPGs with insights on campaign performance and building consultancies that leveraged Plan-Apps data. Ella previously worked as an account manager for a digital marketing agency. Want to chat about how Threefold can supercharge your retail media strategy? You can reach her at firstname.lastname@example.org.
Founded in 2008, Threefold is the world's leading Retail Media Network (RMN) specialist, headquartered in both London and New York. As part of the SMG agency network, which employs over 250 retail media experts, Threefold's primary mission is to unlock incremental CPG budgets, curate media campaigns that supercharge sales and elevate its retail partners into top-tier omnichannel media owners, spanning in-store, offsite and online.
Threefold's services include consultancy, evaluation, and a white-label in-house solution that has seen the agency build, run and operate over 10 Retail Media Networks to date. In the UK, Threefold runs and operates Walgreens' Boots Media Group and Morrisons Media Group, and additional live partners include major retailers like The Co-op, Signet Group and The Very Group.